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When the business climate gets tough, plenty of organizations instinctively tighten their purse strings to protect the bottom line. But new research by strategy advisor and top-rated Harvard Business School Professor Ranjay Gulati reveals how only a select few companies scour the turmoil for hidden opportunities, then take thoughtful action to seize them.

What sets them apart from the pack?

“These visionary organizations realize that true resilience involves more than recovering from or resisting the effects of adversity. It is the ability to emerge even stronger,” says Gulati in an eye-opening new Harvard Business Review article, “Investing in Growth Through Uncertainty.”

“This requires both pressure-testing your firm’s operational and financial health (its P&L and balance sheet) in worst-case scenarios and staying alert for measures you might take, even amid chaos, to find a winning edge.”

Resilience as a Catalyst for Transformation

Author of the award-winning book, “Deep Purpose” (2022), Gulati emphasizes how resilience is more than just preparing for worst-case scenarios. Using tangible examples from diverse industries – including Alaska Airlines, Firefly and Panera Bread – he vividly illustrates how leaders should cultivate three mindsets to help them win in uncertain times: sensemaking in crisis, a bootstrap ethic and stakeholder balance.

This multifaceted thinking provides a crucial balance to embrace both protective and prospective strategies at the same time.

Gulati’s exploration into the nature of business resilience underlines an essential lesson for contemporary leaders: “Adversity isn’t simply a threat to be contained but a unique opportunity for individual and organizational growth.”

A beacon of strategic insight, Gulati’s guidance helps leaders not just weather the storm, but learn to dance in the rain, transforming challenges into stepping stones for innovation and robust growth.

When leaders approach tough times with a balanced mix of defensive and offensive strategies, their organizations don’t just bounce back from adversity – they springboard out of crises stronger than ever. Stern Strategy Group connects you with renowned thought leaders whose insights, strategies and management frameworks help organizations fuel growth and disruptive innovation to better compete in a constantly changing world. Let us arrange for one of our world-renowned experts to advise your organization via virtual and in-person consulting sessions, workshops and keynotes.

Thriving on Turmoil: Resilience as a New Competitive Edge was last modified: July 13th, 2023 by Meg Virag